Milan, Italy, December 2 2025 (Agencies) – The Prada Group has purchased iconic fashion house Versace in a landmark deal valued at nearly $1.4 billion, marking one of the biggest shake-ups in the global luxury industry.
Versace, previously owned by Capri Holdings, will now join Prada’s portfolio alongside Prada and Miu Miu. The acquisition is seen as a strategic move to revive Versace’s market performance, which has struggled in recent years despite its global recognition.
Under the agreement, Lorenzo Bertelli, heir to the Prada empire and Chief Marketing & Sustainability Officer, will serve as Executive Chairman of Versace. Capri Holdings confirmed that proceeds from the sale will be used to reduce debt, signaling a retreat from its European luxury ambitions.
Industry analysts say the deal positions Prada as a stronger competitor to luxury giants LVMH and Kering, while combining Versace’s bold glamour with Prada’s minimalist aesthetic and Miu Miu’s youthful sensibility.
Versace’s longtime creative force Donatella Versace welcomed the acquisition, calling it a new chapter for the brand.